Milberg Partner Changes Legal Team In Kickbacks Case

Law360, New York (May 4, 2006, 12:00 AM EDT) -- Milberg Weiss Bershad & Schulman partner Steven Schulman has replaced his attorney in the high-profile investigation into allegations that the firm paid kickbacks to lead plaintiffs, swapping Edward Hayes for Herbert Stern.

Hayes has represented Schulman throughout the probe, which was launched by regulators several years ago, and most recently leaked to the press that he had received word that prosecutors would indict Schulman and Milberg partner David Bershad for their roles in the alleged scheme.

Although Hayes told the media indictments would be handed down...
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